MGM Resorts International (MGM) FY2014 results: revenue $10.1 billion, up 2.8% on the year
MGM Resorts International (MGM) reported revenue of $10.1 billion for fiscal 2014, the year ended 31 December 2014, up 2.8% on the year before. Net income was -$150 million, and diluted earnings per share $-0.31. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$10.1 billion
+2.8% on the year
FY2008FY2014
Operating margin
13.1%
11.6% a year earlier
FY2008FY2014
Net income
-$150 million
FY2008FY2014
Diluted EPS
-$0.31
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
10,082
9,810
9,161
+2.8%
Selling, general and administrative
1,319
n/a
n/a
Operating income
1,324
1,137
121
+16.4%
Operating margin
13.1%
11.6%
1.3%
Interest expense
817
857
1,116
-4.7%
Pre-tax income
411
62.2
-1,734
+560.7%
Income tax
284
20.8
-117
+1,262.9%
Effective tax rate
69.0%
33.5%
n/a
Net income
-150
-172
-1,768
Net margin
-1.5%
-1.8%
-19.3%
Diluted EPS
-$0.31
-$0.32
-$3.62
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
1,131
1,310
909
-13.7%
Capital expenditure
872
562
423
+55.1%
Free cash flow
259
748
487
-65.4%
Free cash flow margin
2.6%
7.6%
5.3%
Depreciation and amortisation
816
849
928
-3.9%
Share-based compensation
37.3
32.3
39.6
+15.3%
Diluted shares, weighted
491m
490m
489m
+0.2%
Shares outstanding at period end
491m
490m
489m
+0.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,091
4,216
4,366
-3.0%
Non-controlling interest
3,537
3,644
3,750
-2.9%
Debt
14,051
13,447
13,589
+4.5%
Other liabilities
4,915
4,802
4,579
+2.3%
Total liabilities and equity
26,594
26,110
26,285
+1.9%
Fixed assets
14,442
14,055
14,195
+2.7%
Goodwill
2,897
2,897
2,903
-0.0%
Intangible assets
4,365
4,512
4,738
-3.3%
Cash and equivalents
1,714
1,804
1,544
-5.0%
Receivables
473
488
444
-3.0%
Inventory
104
108
108
-3.6%
Other assets
2,599
2,246
2,355
+15.7%
Total assets
26,594
26,110
26,285
+1.9%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.